CuriosityStream Inc.

Non-GAAP Financial Measures

This press release includes references to a financial measure, Adjusted EBITDA, that is not prepared in accordance with generally accepted accounting principles in the United States (“GAAP”). Our use of non-GAAP financial measures, such as Adjusted EBITDA, has limitations as an analytical tool, and these measures should not be considered in isolation or as a substitute for analysis of financial results as reported under GAAP.

We use non-GAAP financial measures in conjunction with financial measures prepared in accordance with GAAP for planning purposes, including in the preparation of our annual operating budget, as a measure of our core operating results and the effectiveness of our business strategy, and in evaluating our financial performance. These measures provide consistency and comparability with past financial performance, facilitate period-to-period comparisons of core operating results, and also facilitate comparisons with other peer companies, many of which use similar non-GAAP financial measures to supplement their GAAP results. In addition, Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s operating performance. We exclude the following items from net income to calculate Adjusted EBITDA: interest and other income (expense), provision for income taxes, depreciation and non-content amortization, loss/(gain) on the change in fair value of our warrants, equity interests loss (gain), impairment of goodwill, intangible assets and content assets, restructuring charges and stock-based compensation.

Investors are cautioned that there are material limitations associated with the use of non-GAAP financial measures as an analytical tool.

For a reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measure, see Exhibit 99.1 to our Current Report on Form 8-K, filed with the SEC on August 12, 2026.